Homeownership Benefits

Is owning a home better than renting?  Owning your own home certainly has it’s benefits.  There are so many I don’t know where to start.  I can tell you from personal experience that the emotional benefits of home ownership were better than I had expected.  The pride of ownership is something I had never had when renting property.  When we own something, it is really an extension of ourselves, and we can fix it up and personalize it.  Being able to put “sweat equity” into your real estate and knowing that it will benefit you, emotionally and financially the entire time you live in the property, and when you sell it is a great feeling.  This is a feeling never realized by renters.  When I bought my home, for the first time I really had a sense of community, and that I wanted to be an active member of it.  I wanted to make my property and the surrounding neighborhood better for the greater good.  Now that I have a vested interest in Palmdale real estate, I want to make the area a better place to raise my children.  Now that I’m a home owner I’m concerned with the quality of the schools, the cleanliness of the area, local parks, and many other things that I wasn’t as concerned with before. Having a place to settle, raise a family, and really call your own is something of extreme importance.  Not everyone is blessed with the luxury of really owning their own little pice of the rock we call Earth.  Those of us lucky enough to be home owners in the Palmdale and Lancaster area certainly know the feeling of gratitude that comes along with it.

I suppose the financial aspect of home ownership would be another major benefit I should outline.  As a Realtor in Palmdale, a lot of my friends ask me “is it better to buy a home or, or to rent?  The advice I give them is always the same, and this is not just the salesman in me talking.  Financially, it makes a lot of sense to buy a home and gain equity, instead of throwing your money away on rent which is building equity for your landlord, and making them rich.  As a general rule of thumb, the value of real estate doubles roughly every ten years.  The mathematics behind the benefits of owning your own home vs. renting are complicated so I will give you a general overview.

To keep my financial example simple, let’s say that I help someone buy or sell a house in the Palmdale or Lancaster, CA area and the home is $250,000 (you have to love Palmdale and Lancaster, CA for the affordable housing here).  So… a $250,000 house, on a 30 year fixed mortgage, with closing costs of $13,462.  A down payment of $8,750.  APR 5.96% and an interest rate of 4.5% and the borrower is in the 28% tax bracket.  We will assume that for our simple financial outline that rental increase is 2% per year and that the appreciation of the home being bought is also 2%.

In the above mortgage and financial model, over the course of five years, you could expect as a renter to pay $123,000 and gain no equity of your own. As a buyer of the same property, you would expect to build equity of $59,444.  It’s a no brainer.  Of course not everyone is able to buy their own home due to inconsistent employment, high debt to income ratio, or a number of other factors which make home ownership prohibitive to many.  It is the American dream to own a home, build equity for you and your family and move up in the financial world.  Without making the right financial moves such as owning your own real estate you hold yourself back from one of the best known ways to create wealth in America.

Homes for Sale in Palmdale, CA by Real Estate Agent Wes Darby

  1. 5 beds, 3 baths
    Home size: 1,802 sq ft
    Lot size: 7,840 sqft
    Year built: 1989
    Days on market: 1
  2. 3 beds, 2 baths
    Home size: 924 sq ft
    Lot size: 6,969 sqft
    Year built: 1956
    Days on market: 1
  3. 5 beds, 4 baths
    Home size: 4,088 sq ft
    Lot size: 9,583 sqft
    Year built: 2006
    Days on market: 1
  4. 4 beds, 3 baths
    Home size: 2,375 sq ft
    Lot size: 6,969 sqft
    Year built: 2003
    Days on market: 1
  5. 5 beds, 4 baths
    Home size: 2,815 sq ft
    Lot size: 5,227 sqft
    Year built: 2006
    Days on market: 1
  6. 3 beds, 2 baths
    Home size: 1,673 sq ft
    Lot size: 7,405 sqft
    Year built: 1990
    Days on market: 2
  7. 4 beds, 4 baths
    Home size: 1,938 sq ft
    Lot size: 5,662 sqft
    Year built: 1987
    Days on market: 3
  8. 8 beds, 7 baths
    Home size: 5,492 sq ft
    Lot size: 2.14 ac
    Year built: 2000
    Days on market: 3
  9. 3 beds, 2 baths
    Home size: 1,708 sq ft
    Lot size: 2.89 ac
    Year built: 1976
    Days on market: 3
  10. 3 beds, 3 baths
    Home size: 2,437 sq ft
    Lot size: 6,969 sqft
    Year built: 2007
    Days on market: 4
  11. 4 beds, 4 baths
    Home size: 2,627 sq ft
    Lot size: 6,534 sqft
    Year built: 1995
    Days on market: 4
  12. 3 beds, 2 baths
    Home size: 1,695 sq ft
    Lot size: 9,147 sqft
    Year built: 1993
    Days on market: 4
  13. 4 beds, 3 baths
    Home size: 2,342 sq ft
    Lot size: 10,454 sqft
    Year built: 1965
    Days on market: 4
  14. 4 beds, 3 baths
    Home size: 1,814 sq ft
    Lot size: 9,147 sqft
    Year built: 1994
    Days on market: 4
  15. 4 beds, 2 baths
    Home size: 1,759 sq ft
    Lot size: 6,969 sqft
    Year built: 1990
    Days on market: 4
  16. 3 beds, 2 baths
    Home size: 1,216 sq ft
    Lot size: 7,405 sqft
    Year built: 1956
    Days on market: 4
  17. 3 beds, 2 baths
    Home size: 1,023 sq ft
    Lot size: 6,969 sqft
    Year built: 1986
    Days on market: 4
  18. 5 beds, 4 baths
    Home size: 3,102 sq ft
    Lot size: 10,454 sqft
    Year built: 2002
    Days on market: 5
  19. 4 beds, 3 baths
    Home size: 2,145 sq ft
    Lot size: 7,405 sqft
    Year built: 1992
    Days on market: 5
  20. 3 beds, 2 baths
    Home size: 1,528 sq ft
    Lot size: 4,791 sqft
    Year built: 1990
    Days on market: 5
  21. 3 beds, 3 baths
    Home size: 1,967 sq ft
    Lot size: 6,969 sqft
    Year built: 1989
    Days on market: 5
  22. 5 beds, 5 baths
    Home size: 3,680 sq ft
    Lot size: 6,969 sqft
    Year built: 2004
    Days on market: 5
  23. 4 beds, 3 baths
    Home size: 3,188 sq ft
    Lot size: 19,602 sqft
    Year built: 1990
    Days on market: 5
  24. 4 beds, 2 baths
    Home size: 2,288 sq ft
    Lot size: 9,147 sqft
    Year built: 1994
    Days on market: 5
  25. 3 beds, 3 baths
    Home size: 1,752 sq ft
    Lot size: 7,405 sqft
    Year built: 1989
    Days on market: 6
  26. 2 beds, 2 baths
    Home size: 1,065 sq ft
    Lot size: 6,534 sqft
    Year built: 1988
    Days on market: 6
  27. 3 beds, 2 baths
    Home size: 1,880 sq ft
    Lot size: 7,405 sqft
    Year built: 1990
    Days on market: 6
  28. 3 beds, 3 baths
    Home size: 2,288 sq ft
    Lot size: 2.50 ac
    Year built: 2008
    Days on market: 6
  29. 4 beds, 3 baths
    Home size: 2,043 sq ft
    Lot size: 26.08 ac
    Year built: 2008
    Days on market: 6
  30. 3 beds, 2 baths
    Home size: 1,088 sq ft
    Lot size: 10,890 sqft
    Year built: 1955
    Days on market: 6
  31. 4 beds, 3 baths
    Home size: 2,698 sq ft
    Lot size: 7,405 sqft
    Year built: 2005
    Days on market: 6
  32. 3 beds, 2 baths
    Home size: 1,440 sq ft
    Year built: 1985
    Days on market: 7
  33. 4 beds, 3 baths
    Home size: 3,099 sq ft
    Lot size: 12,632 sqft
    Year built: 2001
    Days on market: 7
  34. 3 beds, 2 baths
    Home size: 1,609 sq ft
    Lot size: 6,969 sqft
    Year built: 1994
    Days on market: 7
  35. 4 beds, 3 baths
    Home size: 2,622 sq ft
    Lot size: 13,503 sqft
    Year built: 2006
    Days on market: 7
  36. 4 beds, 4 baths
    Home size: 3,878 sq ft
    Lot size: 10,018 sqft
    Year built: 2006
    Days on market: 7
  37. 3 beds, 2 baths
    Home size: 1,264 sq ft
    Lot size: 3,920 sqft
    Year built: 1986
    Days on market: 7
  38. 3 beds, 3 baths
    Home size: 1,988 sq ft
    Lot size: 4,791 sqft
    Year built: 2004
    Days on market: 8
  39. 3 beds, 3 baths
    Home size: 1,888 sq ft
    Lot size: 5,662 sqft
    Year built: 1987
    Days on market: 8
  40. 4 beds, 2 baths
    Home size: 1,521 sq ft
    Lot size: 7,405 sqft
    Year built: 1985
    Days on market: 8
  41. 4 beds, 2 baths
    Home size: 1,771 sq ft
    Year built: 1969
    Days on market: 8
  42. 5 beds, 3 baths
    Home size: 3,263 sq ft
    Lot size: 12,632 sqft
    Year built: 1995
    Days on market: 8
  43. 2 beds, 3 baths
    Home size: 1,699 sq ft
    Lot size: 2.65 ac
    Year built: 1979
    Days on market: 8
  44. 3 beds, 2 baths
    Home size: 1,320 sq ft
    Lot size: 23,522 sqft
    Year built: 1986
    Days on market: 8
  45. 4 beds, 3 baths
    Home size: 1,690 sq ft
    Lot size: 6,098 sqft
    Year built: 1994
    Days on market: 8
  46. 5 beds, 3 baths
    Home size: 2,603 sq ft
    Lot size: 13,068 sqft
    Year built: 1988
    Days on market: 8
  47. 4 beds, 36 baths
    Home size: 2,081 sq ft
    Lot size: 8,276 sqft
    Year built: 1987
    Days on market: 8
  48. 2 beds, 1 bath
    Home size: 900 sq ft
    Lot size: 6,098 sqft
    Year built: 1954
    Days on market: 8
  49. 4 beds, 3 baths
    Home size: 1,905 sq ft
    Lot size: 4,791 sqft
    Year built: 1987
    Days on market: 8
  50. 3 beds, 2 baths
    Home size: 1,440 sq ft
    Year built: 1973
    Days on market: 8

See all Real estate in the city of Palmdale.
(all data current as of 11/13/2018)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Residential Listings from Lancaster, CA Realtor Wes Darby

  1. 5 beds, 4 baths
    Home size: 3,701 sq ft
    Lot size: 2.56 ac
    Year built: 1983
    Days on market: 1
  2. 3 beds, 2 baths
    Home size: 1,597 sq ft
    Lot size: 10,454 sqft
    Year built: 1984
    Days on market: 1
  3. 4 beds, 3 baths
    Home size: 1,914 sq ft
    Lot size: 11,325 sqft
    Year built: 1986
    Days on market: 1
  4. 3 beds, 2 baths
    Home size: 1,361 sq ft
    Lot size: 6,969 sqft
    Year built: 2010
    Days on market: 2
  5. 4 beds, 2 baths
    Home size: 1,606 sq ft
    Lot size: 8,276 sqft
    Year built: 1985
    Days on market: 2
  6. 3 beds, 1 bath
    Home size: 1,064 sq ft
    Lot size: 6,969 sqft
    Year built: 1954
    Days on market: 2
  7. 3 beds, 1 bath
    Home size: 1,278 sq ft
    Lot size: 6,098 sqft
    Year built: 1952
    Days on market: 2
  8. 3 beds, 2 baths
    Home size: 1,714 sq ft
    Lot size: 8,276 sqft
    Year built: 1985
    Days on market: 3
  9. 3 beds, 2 baths
    Home size: 1,692 sq ft
    Lot size: 10,890 sqft
    Year built: 1987
    Days on market: 3
  10. 3 beds, 2 baths
    Home size: 1,373 sq ft
    Lot size: 6,534 sqft
    Year built: 1986
    Days on market: 3
  11. 3 beds, 2 baths
    Home size: 1,054 sq ft
    Lot size: 6,098 sqft
    Year built: 1956
    Days on market: 4
  12. 4 beds, 3 baths
    Home size: 1,786 sq ft
    Lot size: 10,018 sqft
    Year built: 1986
    Days on market: 4
  13. 3 beds, 2 baths
    Home size: 1,249 sq ft
    Lot size: 6,969 sqft
    Year built: 1985
    Days on market: 4
  14. 3 beds, 2 baths
    Home size: 1,436 sq ft
    Lot size: 7,840 sqft
    Year built: 1982
    Days on market: 4
  15. 3 beds, 3 baths
    Home size: 1,524 sq ft
    Lot size: 6,098 sqft
    Year built: 1990
    Days on market: 4
  16. 4 beds, 3 baths
    Home size: 1,229 sq ft
    Lot size: 7,405 sqft
    Year built: 1956
    Days on market: 4
  17. 4 beds, 2 baths
    Home size: 1,860 sq ft
    Lot size: 9,583 sqft
    Year built: 2000
    Days on market: 4
  18. 4 beds, 2 baths
    Home size: 2,087 sq ft
    Lot size: 7,840 sqft
    Year built: 2005
    Days on market: 4
  19. 4 beds, 3 baths
    Home size: 2,718 sq ft
    Lot size: 23,958 sqft
    Year built: 1975
    Days on market: 4
  20. 4 beds, 3 baths
    Home size: 2,162 sq ft
    Lot size: 7,405 sqft
    Year built: 2018
    Days on market: 4
  21. 3 beds, 2 baths
    Home size: 1,233 sq ft
    Lot size: 7,405 sqft
    Year built: 1966
    Days on market: 4
  22. 3 beds, 2 baths
    Home size: 2,190 sq ft
    Lot size: 7,840 sqft
    Year built: 2014
    Days on market: 4
  23. 4 beds, 3 baths
    Home size: 2,171 sq ft
    Lot size: 9,583 sqft
    Year built: 1989
    Days on market: 4
  24. 4 beds, 2 baths
    Home size: 2,067 sq ft
    Lot size: 12,196 sqft
    Year built: 1993
    Days on market: 4
  25. 3 beds, 2 baths
    Home size: 1,308 sq ft
    Lot size: 8,712 sqft
    Year built: 1986
    Days on market: 4
  26. 4 beds, 3 baths
    Home size: 2,209 sq ft
    Lot size: 8,276 sqft
    Year built: 2010
    Days on market: 4
  27. 5 beds, 3 baths
    Home size: 2,818 sq ft
    Lot size: 6,534 sqft
    Year built: 2003
    Days on market: 4
  28. 4 beds, 2 baths
    Home size: 1,840 sq ft
    Lot size: 6,969 sqft
    Year built: 2006
    Days on market: 4
  29. 3 beds, 2 baths
    Home size: 1,791 sq ft
    Lot size: 6,534 sqft
    Year built: 1996
    Days on market: 5
  30. 3 beds, 3 baths
    Home size: 1,581 sq ft
    Lot size: 7,405 sqft
    Year built: 1990
    Days on market: 5
  31. 3 beds, 2 baths
    Home size: 1,025 sq ft
    Lot size: 38,768 sqft
    Year built: 1987
    Days on market: 5
  32. 4 beds, 3 baths
    Home size: 1,905 sq ft
    Lot size: 6,098 sqft
    Year built: 1995
    Days on market: 5
  33. 3 beds, 2 baths
    Home size: 1,396 sq ft
    Lot size: 10,454 sqft
    Year built: 1989
    Days on market: 5
  34. 4 beds, 4 baths
    Home size: 2,312 sq ft
    Lot size: 7,840 sqft
    Year built: 1996
    Days on market: 5
  35. 3 beds, 2 baths
    Home size: 1,389 sq ft
    Lot size: 7,840 sqft
    Year built: 1986
    Days on market: 5
  36. 4 beds, 2 baths
    Home size: 1,588 sq ft
    Lot size: 6,098 sqft
    Year built: 1993
    Days on market: 5
  37. 3 beds, 3 baths
    Home size: 2,128 sq ft
    Lot size: 8.43 ac
    Year built: 1986
    Days on market: 5
  38. 4 beds, 2 baths
    Home size: 1,967 sq ft
    Lot size: 12,632 sqft
    Year built: 2002
    Days on market: 5
  39. 4 beds, 2 baths
    Home size: 2,314 sq ft
    Lot size: 10,454 sqft
    Year built: 2002
    Days on market: 6
  40. 3 beds, 2 baths
    Home size: 1,572 sq ft
    Lot size: 6,534 sqft
    Year built: 2003
    Days on market: 6
  41. 4 beds, 3 baths
    Home size: 1,672 sq ft
    Lot size: 6,098 sqft
    Year built: 1989
    Days on market: 6
  42. 3 beds, 2 baths
    Home size: 1,054 sq ft
    Lot size: 6,534 sqft
    Year built: 1957
    Days on market: 6
  43. 6 beds, 4 baths
    Home size: 2,902 sq ft
    Lot size: 6,969 sqft
    Year built: 2005
    Days on market: 6
  44. 4 beds, 3 baths
    Home size: 1,753 sq ft
    Lot size: 6,098 sqft
    Year built: 1957
    Days on market: 6
  45. 4 beds, 3 baths
    Home size: 2,208 sq ft
    Lot size: 6,534 sqft
    Year built: 2002
    Days on market: 6
  46. 2 beds, 1 bath
    Home size: 786 sq ft
    Lot size: 14,374 sqft
    Year built: 1952
    Days on market: 6
  47. 3 beds, 2 baths
    Home size: 1,868 sq ft
    Lot size: 10,018 sqft
    Year built: 1986
    Days on market: 6
  48. 3 beds, 2 baths
    Home size: 1,355 sq ft
    Lot size: 10,018 sqft
    Year built: 1969
    Days on market: 6
  49. 3 beds, 2 baths
    Home size: 1,336 sq ft
    Lot size: 6,534 sqft
    Year built: 1993
    Days on market: 6
  50. 3 beds, 2 baths
    Home size: 1,945 sq ft
    Lot size: 6,969 sqft
    Year built: 2005
    Days on market: 6

See all Real estate in the city of Lancaster.
(all data current as of 11/13/2018)

Listing information deemed reliable but not guaranteed. Read full disclaimer.